All Blog Entries

EURUSD Forecast:
The EURUSD failed to continue its bullish correction yesterday. On h4 chart below we can see that the bullish channel has been violated to the downside indicating the end of the bullish correction phase and price ready to resume its major bearish scenario towards 1.2000 area especially if price able to move consistently below 1.2280/60 region. Although it's obvious that technically this pair is set to push lower, note that the market remains tricky and still likely to have high volatility. Another intervention threat is still potential. Immediate resistance at 1.2440. Break above that area could trigger further bullish momentum testing 1.2500 region.


...

INTRA-DAY USD/JPY:

Last Update At 25 May 2010 02:40 GMT

Range Forecast
89.96 / 90.20


Resistance/Support
R: 90.31/90.63/90.75
S: 89.94/89.74/89.54

-----------
INTRA-DAY EUR/USD:

Last Update At 25 May 2010 02:47 GMT

Range Forecast
1.2295 / 1.2330


Resistance/Support
R: 1.2354/1.2372/1.2417
S: 1.2283/1.2260/1.2229

-----------
INTRA-DAY USD/CHF:

Last Update At 25 May 2010 03:29 GMT

Range Forecast
1.1595 / 1.1625


Resistance/Support
R: 1.1625/1.1657/1.1713
S: 1.1587/1.1551/1.1490
...

[B]Bias:[/B] As long as 1.2240-50 can support I feel the upside can develop once again

Losses came as expected but actually even stronger than expected. However, cautiously I feel they are close to completion. While 1.2310-20 caps there is room for one more dip to the 1.2240-60 area. Note the bullish divergence in hourly momentum developing. Thus look for bullish trade set ups in the 1.2240-60 area. From here a break back above 1.2320-30 to the 1.2350-71 area. This should cause a correction. Once complete I feel the upside will follow-through above the 1.2415 and 1.2445 corrective highs and back to the 1.2480 pivot resistance. Take care here. Above is 1.2562-96 and the 1.2670 high...

Therefore, only a break ...

INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.2306

Late Update At 25 May 2010 01:49 GMT

Despite early breach of y'day's NY low at 1.2345
(now res) in Australia, euro's present rebound fm 1.2283 suggests a minor low has been formed n sideways trading is now envisaged b4 prospect of extending early fall fm 1.2673 (Fri) twd 1.2260 later.

Still favour selling on further recovery for
1.2285 n only abv 1.2354 wud risk 1.2375/85.

Range Forecast
1.2295 / 1.2330


Resistance/Support
R: 1.2354/1.2372/1.2417
S: 1.2283/1.2260/1.2229

http://www.acetraderfx.com